Redwater Reigns: SKCA Affirms Redwater's Applicability After Failed CCAA
The Saskatchewan Court of Appeal has confirmed that the Supreme Court of Canada's decision in Orphan Well Association v. Grant Thornton Ltd, 2019 SCC 5 [Redwater], applies in Saskatchewan. The Court of Appeal also affirmed that orders made in failed proceedings in Alberta under the Companies' Creditors Arrangement Act did not have effect in subsequent receivership proceedings in Saskatchewan. The Court held that the CCAA proceedings did not impose payment obligations on Bow River outside of the statutory requirements already present. Additionally, the CCAA proceedings did not establish a trus...
Source: bennettjones.com